Tencent Music’s Stock Won’t Rally Until These 3 Things Happen

Leo Sun, The Motley Fool

13 August 2020 at 9:37 am·5-min read

Tencent Music’s Stock Won’t Rally Until These 3 Things Happen

Tencent Music Entertainment (NYSE: TME), the top music streaming company in China, went public in late 2018 and its stock currently trades nearly 20% above its IPO price. Back in June, I explained why investors favored Spotify over Tencent Music: Spotify generated stronger growth in revenue and paid users, operated a simpler business model that didn't rely on live videos, and faced fewer regulatory challenges than Tencent Music. Tencent Music's recent second-quarter earnings report didn't bring back the bulls.

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